Rentokil shares slide almost 20 per cent as demand weakens in North AmericaPhoto by Jimmy Beunardeau / Hans Lucas / AFP via Getty ImagesPest control giant Rentokil’s share price slid 17 per cent on Thursday morning following a slow appetite from the North American residential market. The firm‘s profit growth was driven by pricing growth staying intact ahead of inflation, and organic revenue increased by 4.2 per cent in the second quarter of this year. The pest control company, which operates across 90 countries, said 93 per cent of its revenue comes from its top 20 markets and is not “adequately benefiting from our scale,” especially in the North American market, following its multi-billion pound acquisition of rival US pest control firm Terminix in 2022. ‘Challenging trading conditions’ in the UKThe North American market is critical to Rentokil and accounts for approximately 59 per cent of the group’s total revenue, and despite the North American division’s overall revenue up $995m (£745.8m) for the first half of this year, the momentum is now slowing. The group said in the UK, its pest control business was held back by “more challenging trading conditions”, in particular by “softness in overall housing demand”, leading to its asbestos removal business suffering.